Shares of Micron (MU) surged 7.3% as the company reported record-breaking first-quarter fiscal 2026 results with revenue hitting $13.6 billion, a 57% increase year-over-year. Earnings per share were $4.78, and the company’s forecast for the next quarter is $18.7 billion, far exceeding expectations. Demand for memory products, especially for AI applications, was a key driver. Micron’s high-end memory supply for 2026 is fully booked, leading to tight supply constraints in the industry and an all-time high stock price. The shares closed at $266.01, up 7.1% from previous close.

The market views Micron’s latest news as meaningful but not fundamentally changing its perception of the business. The company’s revenue and earnings beat expectations, with an operating margin increase to 45%. Micron’s forecast for the first quarter was 29.3% above analysts’ estimates, reinforcing investor optimism about strong demand for memory chips. The stock is up 205% year-to-date, reaching a new 52-week high at $266.49 per share. Investors who bought $1,000 worth of Micron shares 5 years ago would now have an investment worth $3,729.

Read more at StockStory: Why Micron (MU) Stock Is Up Today